CMC Metals (CVE:CMB) Shares Down 20% – Here’s What Happened

CMC Metals Ltd. (CVE:CMB)’s share price traded down 20% on Wednesday . The stock traded as low as C$0.02 and last traded at C$0.02. 440,732 shares were traded during mid-day trading, an increase of 176% from the average session volume of 159,677 shares. The stock had previously closed at C$0.03.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$0.12 price objective on CMC Metals and gave the company a “buy” rating in a research report on Monday, January 6th.

CMC Metals Trading Down 20.0 %

The stock has a market cap of C$3.15 million, a PE ratio of -2.00 and a beta of 0.99. The firm has a 50-day moving average price of C$0.02 and a 200-day moving average price of C$0.02. The company has a debt-to-equity ratio of 8.84, a quick ratio of 2.80 and a current ratio of 2.50.

Insider Buying and Selling at CMC Metals

In other CMC Metals news, Director Kevin John Brewer bought 2,500,000 shares of CMC Metals stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of C$0.03 per share, with a total value of C$62,500.00. 5.86% of the stock is owned by company insiders.

About CMC Metals

CMC Metals Ltd. engages in the acquisition and exploration of mineral properties in Canada and the United States. The company explores for silver, zinc, lead, gold, copper, antimony, bismuth, and tungsten deposits. It holds a 100% interest in the Silver Hart property that includes 116 claims covering an area of 2,017 hectares located in south-central Yukon.